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Interparfums

Interparfums
Company typeS.A. (corporation)
ISINFR0004024222
IndustryPerfumes
Founded1982
FounderPhilippe Bénacin
Jean Madar
Headquarters10 rue de Solférino
Paris, France
Area served
Worldwide
Key people
Philippe Bénacin
Productsperfumes
RevenueIncrease €798.5 million (2023)
Increase €118.7 million (2023)
Number of employees
334 (2023)
Subsidiaries
  • Interparfums Usa Llc
Websiteinterparfums.fr

Interparfums is a French company listed on the Euronext Paris, which manufactures and distributes prestigious perfumes.

History

The company was created in 1982 by Philippe Bénacin and Jean Madar. The company first developed in the mass-market perfume market with the design and distribution of affordable eau de toilette before, in the early 1990s, focusing its activity on the selective perfumery niche.[1]

In 1993, the signing of a perfume licensing agreement with the English brand Burberry was the first step in this strategy aimed at building a portfolio of international brands such as Karl Lagerfeld, ready-to-wear brands (Lanvin), fine jewelry (Van Cleef & Arpels, Boucheron), or accessories (ST Dupont, Montblanc, Jimmy Choo, Repetto for fall 2013[2]) still in the world of perfumes and cosmetics.

Since April 2013,[3] after discussions between the British company and Interparfums,[4] the Burberry brand, which represented half of Interparfums' turnover, has been transferred to BPI (Beauté Prestige International), a subsidiary of Shiseido.[5]

In March 2015, Interparfums acquired Rochas, a subsidiary of Procter & Gamble specializing in perfumes and fashion, for $108 million.[6]

In April 2015, Interparfums signed an operating license agreement with the Coach brand.[7]

In 2016, following the acquisition of Balmain by the investment company Mayhoola, Interparfums decided to terminate the licensing agreement.[8]

On June 7, 2019, the Kate Spade New York brand and Interparfums announced that they had signed an exclusive worldwide licensing agreement for Kate Spade perfumes for a period of 11 years.

On June 11, 2020, the Moncler brand and Interparfums announced the signing of a perfume licensing agreement, until December 31, 2026, with a possible 5-year extension.[9]

On July 1, 2020, Interparfums acquired 25% of the website "origines-parfums.fr".[10] Which will become MyOrigines to accelerate its international development.

In January 2021, the Interparfums group, previously located at number 4 of the Rond-point des Champs-Élysées-Marcel-Dassault in the 8th arrondissement of Paris, bought from APSYS the building at number 10 Rue de Solférino (Paris), the former historic headquarters of the Socialist Party in the 7th arrondissement of Paris, and set up its head office there.[11][12]

For the whole of 2021, Interparfums announced a net profit up 40% compared to 2019, the last year before the pandemic, for a figure that now stands at 71.1 million euros.[13] The following year, the Richemont group, which grants several brand licenses to Interparfums, announced that it wanted to take over the "beauty" business; this led to a fall in the manufacturer's stock price.[14]

Activities

Interparfums specializes in the creation, manufacture and marketing of perfumes. Interparfums distributes only a few lines from each of the perfume houses.

Breakdown of 2021 revenue (€560.8 million) by brand:

  • Montblanc for €210.0 million or 26.3% of total sales in 2023
  • Jimmy Choo for €205.6 million or 25.7% of total sales in 2023
  • Coach for €187.4 million or 23.5% of total sales in 2023
  • Lanvin for €48.3 million or 6.0% of total sales in 2023
  • Rochas for €41.0 million or 5.1% of total sales in 2023
  • Karl Lagerfeld for €25.5 million or 3.2% of total sales in 2023
  • Van Cleef & Arpels for €24.5 million or 3.0% of sales total sales in 2023
  • Kate Spade New York for €22.1 million or 2.8% of total sales in 2023
  • Boucheron for €17.4 million or 2.2% of total sales in 2023
  • Moncler for €12.0 million or 1.5% of total sales in 2023
  • Others for €4.7 million or 0.7% of total sales in 2023

The group has ceased production of mass-market perfumes.

Other prestige brands such as Christian Lacroix, Céline, Molyneux, Quiksilver/Roxy, Regine's, Burberry and Nickel previously owned by the group are no longer part of the portfolio.

The products are marketed through more than 1,200 points of sale (perfumeries, franchised chains, department stores) in France, through nearly 250 importing companies, airports and airlines internationally.

The 2011 turnover, up 30%, is 398 million euros. That of 2012, up 12%, is 445.5 million euros, but is expected to fall in 2013 following the loss of the Burberry license and despite the signing of a long contract with Karl Lagerfeld.[15] The 2017 turnover, up 15%, is 422 million euros. For 2017, Europe represents 39.3% of the company's turnover, followed by North America with 28.1%.

The 2018 turnover, up 8%, is 455.3 million euros. The following year, the turnover reached 484.3 million euros, an increase of 6% compared to 2018.

Hit by the economic and health crisis linked to COVID-19, Interparfums deplores for the first half of 2020 a turnover down sharply by 41.3% to 139.3 million euros and a net profit down by 67% to 8.9 million euros.[16] The cancellation of the 2019 dividend was decided to allow the company to maintain a high level of cash.[17]

The 2021 turnover, up 52.7% compared to 2020 and 15.8% compared to 2019, is 560.8 million euros.

The 2022 turnover, up 26% compared to 2021, is 707 million euros.

The 2023 turnover, up 13% compared to 2022, is 798.5 million euros.

See also

References

  1. ^ Trentin, André (August 15, 2022). "Interparfums, le succès du savoir-flair" [Interparfums, the success of know-how]. Le Point.
  2. ^ Chapuis, Dominique (January 30, 2013). "Après Burberry, Interparfums en quête d'acquisitions" [After Burberry, Interparfums in search of acquisitions]. Les Echos.
  3. ^ Garnier, Juliette (2012-07-17). "Burberry et Interparfums : un clash à 181 millions d'euros" [Burberry and Interparfums: a clash worth 181 million euros]. La Tribune (in French). Retrieved 2024-07-30.
  4. ^ conso, L. S. A. (July 27, 2012). "Burberry rachète sa licence parfum et cosmétique pour 181 millions d'euros" [Burberry buys its perfume and cosmetics license for 181 million euros]. LSA Conso – via www.lsa-conso.fr.
  5. ^ Garnier, Juliette (2012-07-27). "Burberry et Interparfum divorcent" [Burberry and Interparfum divorce]. La Tribune (in French). Retrieved 2024-07-30.
  6. ^ "Interparfums set to buy Rochas for $108 million". Reuters. 2015-03-19.
  7. ^ "Interparfums développe des parfums Coach" [Interparfums develops Coach perfumes]. Le Figaro (in French). 2015-04-09. Retrieved 2024-07-30.
  8. ^ Zonebourse (2017-03-14). "Interparfums : coupon 2016 relevé de 21%, perte de Balmain. - Zonebourse". www.zonebourse.com (in French). Retrieved 2024-07-30.
  9. ^ "Interparfums prend en licence la marque de vêtements Moncler" [Interparfums takes over the Moncler clothing brand]. Le Figaro. June 11, 2020.
  10. ^ Belloir, Mirabelle (July 1, 2020). "E-commerce : Interparfums acquiert 25% du site Origine parfums". LSA Conso – via www.lsa-conso.fr.
  11. ^ Treguier, Eric (January 20, 2021). "Le parfumeur Interparfums s'installe dans l'ex-siège du PS, rue de Solférino" [Perfumer Interparfums sets up in the former PS headquarters on rue de Solférino]. Challenges.
  12. ^ Treguier, Eric (April 19, 2021). "A quoi ressemblera le futur siège d'Interparfums (et ex-siège du PS...)" [What will the future headquarters of Interparfums (and former headquarters of the PS) look like?]. Challenges.
  13. ^ "Interparfums : un bénéfice net en 2021 en hausse de 40% par rapport à avant la pandémie" [Interparfums: net profit in 2021 up 40% compared to before the pandemic]. Le Figaro. March 2, 2022.
  14. ^ Gentilhomme, Emmanuel (2024-07-23). "Interparfums s'enflamme à la Bourse de Paris après la levée de l'«hypothèque Richemont» et une belle croissance" [Interparfums soars on the Paris Stock Exchange after the lifting of the “Richemont mortgage” and good growth]. Le Figaro Bourse (in French). Retrieved 2024-07-30.
  15. ^ Vulser, Nicole (January 29, 2013). "Interparfums se prépare à l'après-Burberry" [Interparfums prepares for the post-Burberry era] – via Le Monde.
  16. ^ "Interparfums: le bénéfice net chute au 1er semestre, lesté par la crise" [Interparfums: net profit falls in the first half, weighed down by the crisis]. Le Figaro. September 8, 2020.
  17. ^ "INTERPARFUMS : a bien amorti la crise de la Covid-19 - Zonebourse". www.zonebourse.com. September 8, 2020.
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